August is Time for Lawn & Garden Survival and HEAT Management [[+]] Austin Area Real Estate Market Continues to Normalize as Price Growth Slows, Inventory Rises: Chuck Farr’s August 2022 “Talking Real

Posted by Chuck Farr on Monday, August 29th, 2022 at 6:33pm.

August is Time for Lawn & Garden Survival and HEAT Management [[+]] Austin Area Real Estate Market Continues to Normalize as Price Growth Slows, Inventory Rises: Chuck Farr’s August 2022 “Talking Real Estate” ENewsletter

 

Hello again, homeowners, tenants, prospective buyers, and real-estate investors! In the news,the Austin Board of Realtors says that in July, “median price grew by only 8% year over year to $515,000, a record for the month of July but the first time home price growth has been in the single digits since June 2020. The region’s housing inventory reached 2.7 months — the highest level of inventory since November 2018.” Remember that historical guidelines tell us that 6 months of inventory indicate a “balanced” market—so we are still in a strong sellers’s market. (Check the [[“Talking Real Estate” Monthly Enewsletter]] for all the market details; it may take a few seconds to load.)

Summer Home Maintenance Tips: Summertime has its own home maintenance checklist in Central Texas, especially for existing property owners. Here are a few items to consider during August:

  • It’s been a long, dry summer in the Austin area this year. Set your mower on the highest setting so you do not cut the grass too short and expose it to drought and weeds.
  • When watering restrictions allow, make sure your foliage gets plenty of water during hot summer days. Water early in the day, but not necessarily every day. Plants prefer a good soaking a few times a week rather than a light, daily drizzle.
  • Reverse the setting on your ceiling fans to counterclockwise during hot months. This pushes the air down, creating a nice breeze. Shut off fans when you leave the house to save electricity. [[Watch this video for details on how to reverse your ceiling fan.]]
  • Whether you have central air-conditioning or window units, you should clean or replace your filters at least once every other month (or more often if they are visibly dirty).
  • For longer product life and maximum efficiency, flush out sediments in your property’s water heater annually or at least every two years. You can do this yourself with the help of a YouTube video and a garden hose--or contract a plumber to do the work.

Here is the [[Talking Real Estate Enewsletter]] with always-on links to trends in national, regional, and Austin area real-estate market news. You will also see some handy articles about home buying & selling, home maintenance, taxes, and other topics. In this issue:

  • Austin Area Market Continues to Normalize as Price Growth Slows, Inventory Rises: Home price growth in single digits for first time since June 2020 (latest ABOR report)
  • A Quick, Easy Decluttering Guide
  • About Institutional Homebuyers
  • Don’t Let Them Bug You
  • Surprising Features Homebuyers Want in 2022

Market Snapshots: I’m starting to send some of my clients and contacts quarterly Market Snapshots of their neighborhoods just to let them see how their markets are doing at a high level. I have found that most people like to see (now and then) what kinds of activity and prices are happening around their homes. If you are getting these reports and want to change how often you get them, just let me know.

If you need more detailed information about the market in your own neighborhood or home, just let me know. I'm just a call, text, direct message, or email away and happy to give you a free comparative market analysis of your home and neighborhood.

View your current [[Talking Real Estate Enewsletter]] now.

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